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South Africa's rand weakens more than 1 pct against dollar, buy on dips

Wednesday, March 2, 2016 10:44 AM UTC

Pair is currently trading at 15.7113 levels.
It made intraday high at 15.7420 and low at 15.5381 levels.
Intraday bias remains bullish for the moment.
Key support level falls at 15.5221. A break below will take the parity towards 15.0573 marks.
Alternatively, current reversal will drag the pair towards initial resistance at 16.2114/16.3093 levels.

We prefer to take long position is USD/ZAR around 15.70, stop loss 15.53 and target 16.95 levels.

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South Africa's rand weakens more than 1 pct against dollar, buy on dips

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